company of RPG Enterprises, Ceat Ltd, has unveiled a new logo. This is the first time that the logo is being changed since the company's inception in 1958.
Paras K Chowdhary, chief executive officer, Ceat, says, "The new logo symbolises the strategic transformation at Ceat. It also reflects the fact that though Ceat has a long and proud heritage, the attributes that bring it to life for our customers are as fresh and new as ever. It represents the company's vision of leading the industry in delivering best in class products, innovations and services to consumers."
The logo blends an all-capitals contemporary typeface with a distinctive visual element. The upright hand-drawn type is in bold and connotes strength and stability. The E in the logo represents motion and movement. Ceat's new logo will be supported by multimedia advertising and a marketing campaign.
The Ceat management plans to invest about Rs 1,000 crore in R&D and in its efforts to enhance the customer experience. It plans to set up two new factories and conclude the radialisation programme.
"With a firm investment plan in place, I expect that over the next five years, Ceat will grow by 20 per cent on an average year on year basis, and that by 2013, Ceat's consolidated turnover will be in the region of Rs 6,000 crore," says Chowdhary.